BOSTON, MASS. — Wells Fargo has provided $51.41 million in permanent, non-recourse financing for a 17-property, 1.8 million-square-foot industrial portfolio recently acquired by Cabot Properties. Doug Novitch and Kimberly Dail of Wells Fargo's Boston office originated the loan. March Bechard and Justin Harvey provided in-house representation on behalf of Cabot. Terms of the loan were not disclosed.
COPLAY, PA. — NAI Summit has arranged the acquisition of a 10,500-square-foot flex industrial building located in Coplay for $650,000. The building, which is located at 3241 Levans Road, will be used by the buyer, Loikits Industrial Services, as the second location for its HVAC and refrigeration repair operations. Its first location is in Whitehall, Pa. Jay Haines of NAI Summit represented the buyer. The seller was undisclosed.
HARTLAND, WIS. — CCR Acquisitions has signed a lease with Myra Properties for a 21,172-square-foot building formerly occupied by Badger Wholesale. The property, located at 520 Progress Drive in Hartland, will be used as a silk screening and distribution facility. James Young of Colliers Barry brokered the lease.
CHELMSFORD, MASS. — Jones Lang LaSalle (JLL) has completed the sale of an 84,000-square-foot industrial flex building located at 10 Industrial Ave. in Chelmsford. The single-story building is leased to the U.S. Department of Veterans Affairs, which recently expanded to occupy the entire building. JLL's Scott Jamieson, Michael Smith and Rob Borden represented the seller, New Boston Fund, and procured the buyer, RAM Management Co. The acquisition price was not disclosed.
BREINIGSVILLE, PA. — CB Richard Ellis Capital Markets (CBRE) has arranged $4.3 million in permanent financing for the acquisition of Allentown Crossings III, an approximately 119,900-square-foot industrial building located in Breinigsville. Situated on 17 acres, the Class A facility features 28-foot clear ceiling heights, 12 loading docks and 10 trailer stalls. It is leased on a long-term basis to Olympus Corporation of the Americas. Mike Riccio and Christine Kubas of CBRE's Hartford, Conn., office secured the loan, which carries a 10-year term, a 6.5 percent interest rate and a 25-year amortization schedule. The borrower was Griffin Land & Nurseries, and the lender was NewAlliance Bank.
HOUSTON — Yancey-Hausman Interests has disposed of Fallbrook Business Center, a speculative warehouse facility located at 8726 Fallbrook Drive in Houston. The 40,450-square-foot property features 26-foot clear ceiling heights, two truck courts and six 14-foot tall overhead doors. The buyer, Master Flo, plans to use the building for its valve repair and maintenance operations. Yancey-Hausman Vice President Forbes Henderson represented the seller, YH Development LP, which is an investment group set up by Yancey-Hausman. Stephen George Inc. represented the buyer. The acquisition price was not disclosed.
COMMERCE, CALIF. — Grubb & Ellis has negotiated FBS Manufacturing’s $3.4 million acquisition of 38,590 square feet of industrial space located at 7210 Dominion Circle in Commerce. Grubb & Ellis’ Joshua May and Kyle Degener represented the seller, Sang Won Kim, in the transaction; the brokerage firm’s Thomas Lam and Stephen Lim represented the buyer.
TROY, MICH. — Lama LLC has purchased 7,600 square feet of light industrial space in Troy. Located at 384 Park, the property sold for an undisclosed price. The space is occupied by New Royal Distributors, an importer of Indian and Southeastern Asian foods. Larry Schultz of Friedman Real Estate Group represented the seller, Taurus LTD, in the transaction.
HENRICO COUNTY, VA. — Three Way Logistics has signed a lease with an undisclosed landlord for 85,417 square feet of warehouse space at Interport Business Center. The property is located at 4810 Eubank Road in Henrico County. Thalhimer's Evan Magrill, N. Dean Meyer and Dawn Calabrese brokered the transaction.
ST. CHARLES, ILL. — Shars Tool Co. has purchased a 23,000-square-foot industrial facility at 840 Equity Drive within Legacy Business Center in St. Charles. The property was developed and built by Paul Hemmer Cos. The facility features 24-foot clear ceiling heights, two exterior docks, one grade-level door and 2,378 square feet of office space. The buyer plans to use the facility for the distribution and warehousing of wholesale industrial equipment and tools. Noel Liston and Cory Ramey of Darwin Realty & Development Corp. represented the buyer; Brian Kling of Colliers, Bennett & Kahnweiler represented the property. The acquisition price was not disclosed.